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In the last two years, nothing has changed the global economic landscape more than the climate emergency, the COVID-19 roller coaster, and related geopolitical winds. There is not much time to respond to key risk stressors from the related chain of trends surrounded by exponentialities. The planet is warming, health is being destroyed and geopolitics dominates economic calculus, while the economic system lets that happen. Humanity has less than a decade left until climate change becomes irreversible. A response should be prompt and comprehensive. It requires more radical ideas, such as a paradigm change in economics, both macro and micro.

The aforementioned means putting in place a new nexus of economics rules. This issue of EP is dedicated to the emerging contours of the circular model of growth and heterodox economic policy platform from the perspective of Serbia in order to make it ready for the transition toward a climate-minded and health-minded economy.

The introductory paper prepared by a duo of authors, D. Đuričin and I. Vuksanović Herceg, is devoted to the impact of context change in the case of a small, landlocked, open and low-income economy such as Serbia. The general conclusion is that the “green transition” through industrial policies and impact investment could be a historic opportunity for the economy to recover after the pandemic turns into an endemic.

The adoption of new economics rules triggers a lot of changes in core (monetary and fiscal) and structural policies. Consequently, there are two sorts of papers. The first one focuses on macroeconomics and core policies. This part begins with the contribution of J. Tabaković, the Governor of the NBS, providing a clear answer to the question where Serbia stands in the inflation landscape, continues with the contribution of a duo of authors, M. Kovačević and M. Stevović, who further develop the story about macroeconomic indicators, definitely replacing widespread guesswork inspired by ideological predilections with a fact-based discussion, and closes with the paper written by S. Aranđelovic, dedicated to the tax policy adjustments.

The second block contains the papers that discuss structural policies as a manifestation of the reversibility principle in defining the circular model of growth and heterodox economic policy platform. The things do not look so pretty, as you will see after reading the paper prepared by a quartet of authors, J. Lazarević, N. Savić, A. Petrov and E. Marinković, examining the relationship between talents and innovations. The next paper, authored by S. Kisić, focuses on a closely related topic, entrepreneurship education. The author is trying to determine how deep and radical changes affect skill set development. A duo of authors, A. Vučković and G. Pitić, have explained how innovative amalgams of frontier technologies can contribute to energy efficiency by reducing energy consumption by up to 50%. A multidisciplinary team of authors, including S. Vuković, M. Topalović, D. Lazović and D. Lončar, has presented a comprehensive empirical test addressing the COVID-19 pandemic as a macroeconomic variable. At the end, a trio of authors, G. Petković, R. Pindžo and A. Bradić Marinković, have observed and consulted visitors to gain a valuable insight for their endeavor to develop the tourism strategy.

One of the pleasures of reading both segments of this issue is a chance to learn from people who undertake extraordinary original research with the aim of creating a selfperpetuating cycle of sustainable and inclusive growth, both toward people and nature.